The Home Ownership on Indigenous Land (HOIL) program aims to provide home ownership as a viable option for Indigenous people who are able to obtain a long-term transferable lease on Indigenous land and who are able to service a home loan through Indigenous Business Australia.
Some Money Management services deliver a structured education package on the HOIL program. Participants are provided with education and information to enable them to make an informed decision about purchasing their own home.
Participants who successfully complete the education package are eligible to progress their HOIL loan with Indigenous Business Australia and access to a matched savings scheme.
HOIL is a cross portfolio measure with the Department of Families, Housing, Community Services and Indigenous Affairs as the lead agency working with Indigenous Business Australia and supported by the Attorney-General’s Department on land title issues.
The program was announced as a 2006-2007 Budget measure, with approximately $107.4 million allocated over a period of four years.